Cryptocurrency Master Thread

[KITNfury]

eff, it's a falling knife! Sell! Sell, sell!

[wetwillie]

Sleepykitten.gif

[DaBigTrain]

Sleepykitten.gif

[steve dave]

the mcdonalds uniform, lmao

https://twitter.com/The_Real_Fly/status/1331803003641323522

[DaBigTrain]

the mcdonalds uniform, lmao

https://twitter.com/The_Real_Fly/status/1331803003641323522

https://twitter.com/the_real_fly/status/1332110720419377154

[sonofdaxjones]

https://www.theblockcrypto.com/post/85873/china-seize-billion-cryptos-from-plustoken-crackdown

[steve dave]

6 billion DOGE, lmao


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[Phil Titola]

Spent this black friday setting up my wallet to receive Flare. 

[Kat Kid]

6 billion DOGE, lmao


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[wetwillie]

Spent this black friday setting up my wallet to receive Flare. 

I think it will be worth the effort. The distribution will be quite a bit after the snapshot but I’m excited about what it’s going to do for XRP when it happens

[Phil Titola]

Spent this black friday setting up my wallet to receive Flare. 

I think it will be worth the effort. The distribution will be quite a bit after the snapshot but I’m excited about what it’s going to do for XRP when it happens

Yeah it only took like 10 minutes. Well worth it.

[DaBigTrain]

Spent this black friday setting up my wallet to receive Flare. 

I think it will be worth the effort. The distribution will be quite a bit after the snapshot but I’m excited about what it’s going to do for XRP when it happens

Yeah it only took like 10 minutes. Well worth it.

So give me a brief explanation on this, please.

[wetwillie]

Flare is going to operate their spark token on the XRPL much like chain link does on ETH and are giving the initial offering of the 100 BN exclusively to XRP holders as of the snapshot on December 12.  Speculation is 2 or 3 spark per XRP will be airdropped to those who participated over the next 12-18 months.

[DaBigTrain]

Flare is going to operate their spark token on the XRPL much like chain link does on ETH and are giving the initial offering of the 100 BN exclusively to XRP holders as of the snapshot on December 12.  Speculation is 2 or 3 spark per XRP will be airdropped to those who participated over the next 12-18 months.

XRPL - so is this like their layer 2 scaling solution like Lightning Network? Or just a smart contract platform like Ethereum running on top of XRP?

What benefit does this bring, and what prevents Ripple from just unlocking more XRP, selling, and tanking the value?

[wetwillie]

Yes smart contract platform running on top of XRP.  Not sure about value of smart contracts but from what I understand flare believes using them on the XRPL is faster and cheaper than ETH.  Ripple could definitely go against their current practice and flood the market with more of their escrowed XRP but it would likely kill their own company by eliminating the only revenue source they currently have.

[Kat Kid]

big shoutout to dabigtrain for his help in my crypto journey.

hopefully stunted gets in here and gives us an update.

[DaBigTrain]

Yes smart contract platform running on top of XRP.  Not sure about value of smart contracts but from what I understand flare believes using them on the XRPL is faster and cheaper than ETH.  Ripple could definitely go against their current practice and flood the market with more of their escrowed XRP but it would likely kill their own company by eliminating the only revenue source they currently have.

Gotcha.

See, this is where I have a problem with companies like Ripple who have this centralized model.  They could completely liquidate their company, earning every single one of their employees a massive payout from dumping on everyone else who is bought in.  Their only revenue source now is dumping the XRP that they created by just unlocking it from their "escrow" account anyway.  Hopefully it works out for you but that just screams red flag.

[DaBigTrain]

big shoutout to dabigtrain for his help in my crypto journey.

 

[wetwillie]

I wouldn’t be here without DBT no question, great ambassador for the space

[stunted]

big shoutout to dabigtrain for his help in my crypto journey.

hopefully stunted gets in here and gives us an update.

according to my sources it went up

[DaBigTrain]

This is why Bitcoin was created. It’s been over 11 years since we were in a similar financial situation. If this move fails the fed has nothing left in the chamber. Bitcoin, 2 months before the halving is primed and the stage is set. This is what it was designed to hedge against.


https://twitter.com/alistairmilne/status/1239296370097479682

Then why is Bitcoin essentially tracking the major indexes?

I already said it in the investing thread but more than likely it because investors are selling to cover their losses. If you go back and look at the 2008 financial crisis gold went down as well. It eventually went back up but it’s viewed as this safe haven asset and even then it followed the markets. Bitcoin could be behaving in the same way, which is why it’s been called digital gold.

Look, this is the biggest financial social experiment ever with Bitcoin. It was created for the exact financial landscape we are getting into now tho. When the fed injects money through quantitative easing Bitcoin has gone up in the past. We are 2 months away from a major deflationary event for Bitcoin, and we just injected a massive amount of new money into the system. We have a history of massive price increases after the halvings. Simple economics of supply and demand come into play, regardless of anything else.

It’s going to be an interesting ride.

https://seekingalpha.com/article/4392671-bitcoin-winklevoss-twins-and-planb-see-25x-to-50x-gain-in-next-decade-first-target-stands

[bucket]

https://twitter.com/ObsoleteDogma/status/1334622523212881920

[stunted]

bitcoin is real at least but yea similar cringe

[DaBigTrain]

lol Snowden and I had the same idea that day

https://twitter.com/snowden/status/1335948402157363202

[steve dave]

IT SUCKS AGAIN